CIBN, DJA Seeks Proactive Cybersecurity Strategies In Nigerian Banking Sector

The Chartered Institute of Bankers of Nigeria, in collaboration with Digital Jewels Africa (DJA), hosted a high-impact workshop aimed at addressing the growing cybersecurity challenges facing Nigeria’s banking industry.

The workshop, themed, “A Cyber Resilience Table Top Simulation Exercise for Board Members and Executive Management of Banks,” provided senior executives and board members with the tools and strategies to combat evolving cyber threats.

The event underscored the importance of cybersecurity in the digital economy.

First Vice President of CIBN, Mr. Dele Alabiwho spoke on behalf of President and Chairman of Council, Prof. Pius Olanrewaju highlighted the responsibility of banking sector leaders to stay proactive in identifying and mitigating cyber risks.

“This workshop provides the tools and insights necessary to strengthen our cyber resilience,” Alabi said, emphasizing the sector’s critical role in safeguarding against cyber threats.

Group Managing Director and Chief Executive of Digital Jewels Africa, Mrs. Adedoyin Odunfa delivered an engaging presentation on the rapidly changing cyber risk landscape.

She discussed emerging threats such as third-party vulnerabilities and insider risks, stressing the importance of data protection. Referring to data as the “Digital Crown Jewels,” she stated, “Enhancing our cyber resilience posture is essential to making it harder for attackers and minimizing their rewards.”

Odunfa proposed practical strategies to bolster cyber resilience, including adopting automated controls and fostering collaboration within the banking ecosystem.

She noted that the initiative marked a significant step in empowering Nigeria’s banking leaders with the necessary skills to protect their institutions, ensuring continued trust and stability in the sector.

Discussions also explored the implications of emerging technologies, particularly Artificial Intelligence (AI), and strategies for mitigating associated risks such as job displacement, privacy concerns, and security vulnerabilities.

The workshop emphasized the importance of strategic governance frameworks, talent development, and collaboration to strengthen defenses against cyberattacks.

CIBN, DJA Seeks Proactive Cybersecurity Strategies In Nigerian Banking Sector is first published on The Whistler Newspaper